Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Wednesday called upon the Pakistani-American business community to play a leading role in Pakistan’s economic transformation by investing in priority sectors and contributing expertise to support the country’s long-term development agenda.
Addressing a gathering of around 20 Pakistani-American entrepreneurs, technologists, financiers and investors in Chicago, including several former Fortune 500 executives, the minister said Pakistan had reached a defining stage where improvements in national security, diplomacy and macroeconomic stability must now be translated into sustained economic growth.
He said overseas Pakistanis, particularly the Pakistani-American community, had established themselves in diverse fields, including technology, finance, healthcare, energy and academia, and could make a significant contribution to Pakistan’s economic future.
Ahsan said that following difficult but necessary economic reforms under the leadership of Prime Minister Shehbaz Sharif, Pakistan had restored macroeconomic stability, reduced inflation, lowered policy rates and earned international recognition for its economic recovery. “The vision is there. The economy has been rebuilt. What we need now is your capital, your networks and your expertise,” he said.
The minister said Pakistan’s constructive role in promoting regional peace had strengthened investor confidence and created fresh opportunities for trade, investment and international partnerships, urging overseas Pakistanis to include Pakistan in their professional and investment portfolios. He noted that many members of the delegation were already engaged in investment and philanthropic initiatives in Pakistan, adding that the government’s objective was to transform these individual efforts into structured partnerships under the URAAN Pakistan economic agenda.
Highlighting the government’s long-term vision, Ahsan said URAAN Pakistan aims to transform the country into a one-trillion-dollar economy by 2035 and a three-trillion-dollar economy by 2047 through its 5Es framework comprising Exports, E-Pakistan, Environment and Climate Change, Energy and Infrastructure, and Equity and Empowerment.
He identified information technology, agriculture, manufacturing, tourism, mining and minerals, the blue economy, skilled manpower and creative industries as key sectors for export-led growth. The minister assured the diaspora that the government was committed to providing an enabling environment for investment, innovation and entrepreneurship, expressing confidence that active participation by overseas Pakistanis would help Pakistan emerge as a globally competitive, knowledge-based economy.
He also reaffirmed the government’s commitment to strengthening Pakistan’s knowledge economy through partnerships with leading US academic institutions, including the University of Illinois Chicago, the Illinois Institute of Technology, the University of Chicago and the wider US-Pakistan Knowledge Corridor.
The minister highlighted ongoing efforts to engage overseas Pakistani professionals in advancing Pakistan’s artificial intelligence capabilities and broader technological transformation.
Earlier, Ahsan held three separate meetings with representatives of the University of Chicago, where both sides agreed to enhance cooperation in public-sector reforms, education and climate resilience.
In a meeting with Prof. Madhav Rajan and Prof. Katie Hiranyak, discussions focused on public policy and civil-service transformation. The two sides agreed to develop a hybrid academic programme enabling Pakistani students to undertake coursework in Chicago while completing research in Pakistan, besides jointly designing a modern public-sector transformation programme for Pakistani civil servants.
The minister said improving human capital remained the government’s foremost priority and stressed the need to equip the civil service with modern scientific knowledge, technological expertise and contemporary skills to improve governance and service delivery.
In another meeting with development economist Dr. Christina Brown and Research Director Zohaib Hassan, both sides agreed to collaborate with the Pakistan Institute of Development Economics (PIDE) on comprehensive curriculum reforms aimed at modernising Pakistan’s education system and making learning more accessible and relevant to students.
Ahsan also met Sam Ori, Executive Director of the Institute for Climate and Sustainable Growth, where both sides agreed to expand collaboration on emissions trading, undertake a federal electricity tariff study to promote energy inclusion, sign a new memorandum of understanding with PIDE and strengthen Pakistan’s weather forecasting and early warning systems through specialised training.
The minister observed that Pakistan remained among the countries most vulnerable to climate change despite contributing only a negligible share of global greenhouse gas emissions, underscoring the need for stronger international cooperation to enhance climate resilience.
Concluding his engagements in Chicago, Ahsan and his interlocutors reaffirmed their commitment to translating their shared vision for economic cooperation, regional connectivity, climate resilience and human capital development into practical and measurable outcomes.